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Bakersfield Economy Snapshot: What Happens Next and the Key Decisions Ahead
Recent GDP gains tied to agriculture and energy sectors set the stage for choices on sustaining payrolls and household earnings.
How we reported this
Kern County recorded a 5.2 percent real GDP increase from 2022 to 2023, lifting the Bakersfield-Delano MSA to a current-dollar GDP of $59.8 billion while Kern County's real GDP reached $46.9 billion. That performance outpaced the statewide rate and rested on crop values of $8.63 billion plus the county's position as California's top oil producer.
Why the Data Matters Now
The figures arrive as nonfarm employment reached 293,000 payrolls in June 2024 after a 2.1 percent year-over-year rise, even as the unemployment rate stood at 8.3 percent. Average hourly wages in the MSA were $30.51 as of May 2024, with median household income reported near $63,883. These numbers frame immediate questions about how local sectors will respond to shifting commodity prices and labor availability.
Local Anchors and Sector Weight
Agriculture and energy remain the dominant drivers in Kern County, with the 2023 crop value and oil output directly supporting the regional economy. The Bakersfield-Delano MSA population of approximately 922,529 residents and a median age of 31.9 add a younger workforce profile that local employers continue to draw upon for both field operations and energy projects.
Evidence from Recent Records
Verified county data shows the 5.2 percent GDP advance for 2023 alongside the $8.63 billion crop total and the MSA's $59.8 billion current-dollar output. Home values near $398,000 in the metro area and an average list price of $434,883 for detached homes in an earlier period illustrate housing cost differences relative to state benchmarks, influencing decisions on workforce retention.
Decisions Ahead
Local leaders and businesses now weigh options for maintaining payroll growth and supporting the agriculture and energy base that produced the recorded gains. Monitoring commodity markets, adjusting hiring in response to the June 2024 employment total, and aligning training with the existing wage levels represent practical steps grounded in the same data that tracked the 5.2 percent expansion.